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Corporate Governance

Banks face corporate governance issues particular to their industry. Corporate governance affects how banks set enterprisewide objectives, run the day-to-day operations of their business, consider the interests of recognized stakeholders and protect the interests of depositors. Corporate governance and its implications for banking organizations are addressed in Federal Reserve supervisory guidance and research.

Speeches

Baxter: Corporate Governance and Compliance Readiness Seminar: New Challenges for Corporations and Their Lawyers Remarks by Thomas C. Baxter, Jr., Executive Vice President and General Counsel, before the Association of Corporation Counsel Greater New York Chapter October 14, 2004

Spillenkothen: Corporate governance, risk management, and internal controls Testimony of Richard Spillenkothen before the Permanent Subcommittee on Investigations, Committee on Governmental Affairs, U.S. Senate November 20, 2003

Bies: The Role of Community Bank Directors in Strengthening Corporate Governance Remarks by Governor Susan Schmidt Bies at the Community Bank Directors Conference of theFederal Reserve Bank of Chicago, Des Moines, Iowa August 7, 2003

Bies: Restoring our Confidence in Bank Controls and Financial Statements Remarks by Governor Susan Schmidt Bies before the Conference of State Bank Supervisors, Asheville, North Carolina May 30, 2003

Circulars

Agencies Issue Statement on Application of Recent Corporate Governance Initiatives to Non-Public Banking Organizations Circular No. 11529, July 16, 2003

Interagency Policy Statement on the Internal Audit Function and its Outsourcing Circular No. 11506, March 18, 2003

Additional Resources

Enhancing Corporate Governance for Banking Organizations Basel Committee on Banking Supervision, September 1999; 14 pages / 55 kb

Corporate Governance: What Do We Know and What is Different about Banks? Special Issue of Economic Policy Review 9 (1), April 2003